Are you having trouble getting your spouse on board with the idea of Business Ownership? While the transition may be intimidating, their support will increase your chances of being successful.
Common Objections a Spouse May Have – and How to Address Them
– “It risks our life savings.” Maybe not. You have many avenues for financing which might be attractive to the spouse or might feel less threatening. The less obvious funding options may very well take care of this objection. Ask me about funding from your 401K, for example. The government takes on a significant amount of the risk for you, and you can pay your spouse both a salary and pension from the business.
– “You don’t know how to do XYZ.” Franchises equip you with the business model, tools and skills needed to be successful. If you are already a hard worker, they will teach you what to need to know to operate a business. Franchises are there to coach you through the bumps in the road bumps, and they promote ongoing learning – you will also have a network of other successful business owners you can rely upon help.
– How will we know how much you will make? When you are buying a franchise, planning becomes easier. Franchises have transparent financials. During the due diligence process, you can speak with top medium and bottom performers to see how you might compare. Franchisors also outline the start-up and ongoing expenses you will have so you can plan your family budget accordingly – they provide a structure for planning.
I’m always open to discuss your situation, and have a lot of experience with life transitions. Schedule time to talk with me and I can give you even more specific ideas to get your spouse on board.